{"data":{"id":"us-ok/okla.-stat.-tit.-2-2-17-6","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 2, § 2-17-6","heading":"General powers","body":"Each association incorporated pursuant to the Cooperative\n\nMarketing Association Act shall have the power to:\n\n1. Act as an agency for or subsidiary of or to assist\n\ncooperative associations formed pursuant to the Cooperative\n\nMarketing Association Act or similar acts in any of the activities\n\nauthorized in Section 17-5 of this title and to act as a holding\n\ncorporation of the properties of the associations;\n\n2. Make all necessary and proper contracts and agreements with\n\nany other association formed in this or any other state, or in\n\nconnection with any other association in this or any other state, or\n\nunite in employing and using, or separately to employ and use the\n\nsame methods, means, and agencies which may be used by another\n\nassociation for carrying on and conducting the respective businesses\n\nof the associations;\n\n3. Act as the agent or representative of any member or members\n\nin any lawful activity;\n\n4. Make loans or advances to members or producer patrons or to\n\nthe members of an association which is itself a member;\n\n5. Accept any kind, form, or type of obligation or security,\n\ntherefore to purchase, endorse, discount, or sell any note, draft,\n\nbill of exchange, debenture, bill of sale, mortgage, or other\n\nobligations acquired by it, the proceeds of which have been advanced\n\nor used in the first instance for any of the purposes provided for\n\nin the Cooperative Marketing Association Act; discount for or\n\npurchase from any association, organized under the laws of any state\n\nwith or without its endorsement, any note, draft, bill of exchange,\n\ndebenture, bill of sale, mortgage, or other obligation the proceeds\n\nof which are advanced or used in the first instance for carrying on\n\nany cooperative activity authorized pursuant to the Cooperative\n\nMarketing Association Act and to dispose of same with or without\n\nendorsement. An association organized pursuant to the Cooperative\n\nMarketing Association Act and exercising any of the powers provided\n\nin this paragraph shall not engage in the business of banking;\n\n6. Establish and accumulate reserves including a permanent\n\nsurplus fund as an addition to capital; invest the reserves either\n\ndirectly or by means of subsidiary or affiliated associations or\n\nother corporations in real estate or other property for carrying out\n\nthe purpose of the association, provided no real property\n\ninvestments shall be made except for the purpose of leasing or\n\nacquiring title to real property necessary for use in the conduct of\n\nthe primary business of the association, or the reserves may be\n\ndeposited or invested in securities as the bylaws may provide;\n\n7. Purchase or acquire, hold, own, and exercise all rights of\n\nownership in, and to sell, transfer, pledge or guarantee the payment\n\nof dividends or interest on, or the retirement or redemption of,\n\nshares of capital stock, bonds, or other obligations of any\n\ncorporation or association, engaged in any directly or indirectly\n\nrelated activity, or in the production, warehousing, handling, or\n\nmarketing of any of the products handled by the association;\n\n8. Buy, hold, and exercise all privileges of ownership over\n\nreal or personal property, as may be necessary or convenient for the\n\nconduct and operation of any of the business of the association, or\n\nincidental thereto;\n\n9. Borrow money from any source without limitation as to amount\n\nof corporate indebtedness or liability, with authority to give any\n\nform of obligation or security therefor;\n\n10. Establish and secure, own and develop patents, trademarks,\n\nand copyrights;\n\n11. Deal in products, handle machinery, equipment, or supplies,\n\nor perform services for or on behalf of nonmembers to an amount not\n\ngreater in value during any fiscal year than are dealt in, handled,\n\nor performed by it for, or on behalf of its members during the same\n\nperiod;\nrm of obligation or security therefor;\n\n10. Establish and secure, own and develop patents, trademarks,\n\nand copyrights;\n\n11. Deal in products, handle machinery, equipment, or supplies,\n\nor perform services for or on behalf of nonmembers to an amount not\n\ngreater in value during any fiscal year than are dealt in, handled,\n\nor performed by it for, or on behalf of its members during the same\n\nperiod;\n\n12. Do each and everything necessary, suitable, or proper for\n\nthe accomplishment of any one of the purposes, or the attainment of\n\nany one or more of the subjects enumerated and authorized by the\n\nCooperative Marketing Association Act, or conducive to or expedient\n\nfor the interest or benefit of the association, and to contract\n\naccordingly; and\n\n13. Exercise and possess all powers, rights, and privileges\n\nnecessary or incidental to the purposes for which the association is\n\norganized, or the activities in which it is engaged; and any other\n\nrights, powers, and privileges granted by the laws of this state to\n\nordinary business corporations, except as are inconsistent with the\n\nexpress provisions of the Cooperative Marketing Association Act.","path":["OK Code","Title 2"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os2.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"5e2311a167885335e32a804a5ab4592e806164c9891d01d876ee507d7ed119aa","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-2-2-17-5","next":"us-ok/okla.-stat.-tit.-2-2-17-7"},"notice":"GroundRules: Original legal text. Not legal advice."}